Arsenal Transfer News: Latest Jamie Vardy and Stevan Jovetic Rumours

Jamie Vardy's move to Arsenal could still come to fruition this summer following reports the Leicester City striker is yet to make his mind up on a transfer, while Inter Milan's Stevan Jovetic is being lined up as an alternative.

According to Sky Sports' Paul Vinnell, Vardy—currently on England duty at Euro 2016—hasn't yet decided if he'll leave the King Power Stadium this summer and could still make the switch to north London.

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The Gunners submitted a bid that triggered Vardy's £20 million release clause before he departed for the European Championship, and Leicester responded by offering their forward improved terms to stay at the club.

This development comes after Arsenal manager Arsene Wenger told a Chinese broadcaster he believed Vardy will remain with the Foxes, per Vinnell: "Jamie Vardy is, at the moment, at Leicester and from what I know, he will stay at Leicester."

The north Londoners are understood to be on the lookout for an attacker after signing Granit Xhaka from Borussia Monchengladbach for a reported figure of around £30 million already this summer.

Sky Sports News HQ provided an update on Vardy's situation earlier in the week and elaborated that the attacker isn't likely to make a decision on his future until England's Euro 2016 involvement is complete:

The 29-year-old scored 24 goals in 36 Premier League appearances for Leicester last season as they clinched a historic maiden top-flight title, while Olivier Giroud was Arsenal's highest league scorer with 13 goals.

Vardy has since taken his talents to the international level and scored the equaliser in England's recent 2-1 win over Wales. He is currently his nation's hottest asset up front, per the official Euro 2016 Twitter account:

Elsewhere, Italian broadcaster Sport Mediaset has reported Jovetic could be eyed as an alternative to Vardy, and Inter are said to be happy to sell the forward for £11.5 million (h/t the Mirror's Aaron Flanagan).

Jovetic, 26, is currently on an 18-month loan at the San Siro, with Inter obligated to buy the Manchester City forward for that figure if they're placed 17th or higher in Serie A in December 2016. Di Marzio translator David Amoyal recently provided quotes from the Montenegro forward, who wishes to remain in Italy:

The former Fiorentina ace scored just 11 goals in two seasons at the Etihad Stadium before making the temporary move back to Serie A, but Arsenal may feel they can still make a Premier League success out of the player.

Flanagan's report indicated Spartak Moscow are also showing an interest in Jovetic, however, meaning Arsenal may face some stern competition in their bid to land his signature this summer.